The minutes of the FCA MiFID II implementation roundtable meeting have recently been published. The minutes cover a bespoke Q&A session the FCA held for Trade Associations that covers product governance and the disclosure of costs and charges.
The FCA noted that while product governance was set out in the published MiFID Directive (Directive 2004/39/EC) (“Implementing Directive”), the costs and charges disclosure material would be covered in the forthcoming MiFID II Implementing Regulations and therefore discussions about costs and charges would be made in the context of ESMA’s Technical Advice to the European Commission on MiFID II and MiFIR (“Technical Advice”).
Please see attached document for our handy glance card which contains a summary table of the questions and answers session.
Next steps
The meeting concluded with the FCA noting that it will be organising a range of events over the coming months to assist firms with MiFID II implementation.
The FCA noted it was planning to publish another two MiFID II implementation consultation papers in July and September this year and that full transposition will be completed by April 2017.
To view the full FCA MiFID II implementation roundtable minutes, please click here.
Should you require any assistance or further information in relation to the topics discussed above, Cleveland & Co, your external in-house counsel, is here to help.
